|07 December, 2019

Saudi Arabia, Kuwait to resume production from joint oilfields “very soon”

Saudi Arabia pledged to reduce oil production by additional 167,000 bpd until March 2020 during OPEC+ latest meeting in Vienna

Image used for illustrative purpose. A derek pumps in a oil field January 15, 2003 near the Saudi Arabian border, Kuwait.

Image used for illustrative purpose. A derek pumps in a oil field January 15, 2003 near the Saudi Arabian border, Kuwait.

Getty Images/Joe Raedle

Mubasher: Joint oilfields between Saudi Arabia and Kuwait are expected to resume production “very soon”, Saudi energy minister Prince Abdulaziz said, according to Reuters.

That will not affect both countries’ output cut commitments, he added.

Production from Khafji and Wafra oilfields in the Neutral Zone between Saudi Arabia was suspended more than three years ago. Both fields were supplying 500,000 barrels per day (bpd).

It is worth noting that Saudi Arabia pledged to reduce oil production by additional 167,000 bpd until March 2020 during OPEC+ latest meeting in Vienna.

Source: Mubasher

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